The third day of bidding, Excellent Wires and Packaging Limited's initial public offer, has been subscribed 5.47 times thus far.
Retail investors led the demand, bidding for 9.71 times the quota allotted to them. The amount allotted for non-institutional investors (NIIs) was subscribed 1.22 times over.
Only 14.6 lakh equity shares are being issued fresh in the Rs 12.6 crore IPO. Starting on September 11 and ending on Friday, September 13, is the first share sale. The issue has a fixed price of Rs 90 per share.
Retailers may submit an application for a minimum of one lot, which consists of 1,600 shares valued at Rs 1,44,000. High net worth individuals (HNIs) have the ability to bid up to Rs 2,88,000. for two lots.
IPO timetable and listing
The share allotment status will be finalised on September 16 following the end of the IPO subscription on September 13. Refunds for unsuccessful bidders will begin on September 17, and shares will be moved to the Demat accounts of the winning bidders.
The NSE SME platform Emerge will list the company's shares. September 19 is the estimated date of the Excellent Wires and Packaging initial public offering.
Offer size and structure
The Rs 12.60 crore Excellent Wires and Packaging Limited IPO is a fixed price offering. This is a new 14 lakh issue. The face value of each share in the IPO is fixed at Rs 10. The issue price of each share in this IPO is Rs 90. The lot size of the Ipo is 1600.
With a value of Rs 12.60 crore, it has an issue size of 1,400,000 shares. As previously stated, the company plans to list on the NSE SME. The market capitalisation of the company is Rs 47.12 crore.
Utilisation of IPO proceeds
The company plans to buy land and build buildings with the funds it has raised. The money raised will also be used for general corporate purposes, funding additional working capital requirements, and the purchase of plant and machinery.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
